Saturday, December 19, 2009
When GM came out of bankruptcy the plan was pretty simple. It would shut a number of divisions and then shed four of others - Opel, Saturn, Saab and Hummer. GM balked at the Opel sale after walking most of the way down the aisle. The Saturn deal collapsed after Penske walked away. GM then announced that it would shutter Saturn rather than try to find another buyer. The proposed deal to sell Saab to Koenigsegg Group in Sweden, but that deal fell through. Then, GM entered into discussions with Spyker Cars also in Sweden. After those talks fell apart yesterday GM announced that Saab, too, would be shuttered.